Solicitors

The SRA has launched what it describes as its biggest-ever consultation exercise as it seeks to engage the profession over the introduction of outcomes-focused regulation and alternative business structures.

Five firms have been appointed by the SRA to its first ever litigation panel: Bevan Brittan, Capsticks, Devonshires, Field Fisher Waterhouse and Russell-Cooke.

Changes to the structure of solicitors’ training are beginning to gain ground after two major announcements. Northumbria University Law School has joined forces with national law firm Irwin Mitchell to pilot the Solicitors Regulation Authority’s plans for work-based learning. Meanwhile, City giant Linklaters is to introduce an accelerated legal practice course, shortening the course from a year to just over seven months.

There should be a new core duty on financial management, along with requirements that firms disclose financial problems to their regulator, in the Solicitors Code of Conduct, the SRA has been advised.

Insurance mediation does not sound like the kind of thing solicitors do, but in fact many are involved in it and their knowledge of the rules around it are often sketchy. Alan Bannister of Vizards Wyeth outlines the main issues.

Emergency SRA inspections of firms where property fraud is suspected are estimated to have saved lenders £15-20m in the past nine months, the authority has announced.